Long Term Contracts. 15.1 The parties agree that there will be no discussions or negotiations with respect to entering into long-term contracts between any personnel covered by this Agreement and the Employer Signatories, unless the value of the Day Rate contract (averaged over an agreed reference period which shall be no longer than 12 months) is no less favourable than the value of the long term contract in terms of equivalent compensation.
15.2 Where the personnel covered by this Agreement and the Employer Signatories enter into a long-term contract greater than 12 months. The allowances within clause 6(b), 6(c) and 6(d) shall not be paid, where the employer pays for those costs during the period of the long-term contract.
Long Term Contracts. No BORROWER shall enter into any management contract, employment contract, consulting contract, non-competition contract, service contract or the like, having a term in excess of thirteen (13) months or requiring the payment of any monies by any of the BORROWERS on a date occurring more than thirteen (13) months after the date of such contract with any AFFILIATE.
Long Term Contracts. Any agreement or understanding which obligates Company or Company's Subsidiaries for a period in excess of one year, which has a value in excess of $50,000, to purchase, sell, or provide services, materials, supplies, merchandise, facilities, or equipment and which is not terminable without penalty on not more than thirty (30) days' notice;
Long Term Contracts. The parties acknowledge that in the ------------------- ordinary course of the Business of SELLER(s), SELLER(s) enter into contracts with third parties providing for the sale of propane to such third parties over an extended period of time and at a fixed per unit sales price ("Fixed Sales Contracts"), and SELLER(s) enter into contracts with third parties providing for the purchase of propane from third parties over an extended period of time at a fixed per unit sales price ("Fixed Purchase Contracts"). BUYER agrees that at the Closing it will assume all such Fixed Sales Contracts and Fixed Purchase Contracts, subject to the following:
(a) With respect to such contracts entered into after the date hereof, such contracts shall have been entered into by SELLER(s) in the ordinary course of business consistent with past practices.
(b) BUYER shall assume all Fixed Sales Contracts that have been entered into by SELLERS prior to or following the date hereof with the third parties set forth in Schedule 3.2(b), and the Fixed Sales Contracts entered into by SELLERS with any other third parties that, in addition to satisfying the provisions of clause (a) above, satisfy the creditworthiness standards applied by BUYER in the ordinary course of its business.
(c) Any such Fixed Sales Contract shall be subject to BUYER having offsetting Fixed Purchase Contracts (either assumed hereunder or otherwise) and/or long positions of propane inventory that would result in BUYER having no worse than a breakeven economic position upon BUYER's assumption of such Fixed Sales Contract, and if BUYER would not be in such economic position, then BUYER shall nevertheless assume such Fixed Sales Contract but the Purchase Price shall be reduced by an amount equal to BUYER's reasonably anticipated loss from such Fixed Sales Contract. In determining such "reasonably anticipated loss," there shall be taken into account the terms of such contracts, the transportation costs, the carrying costs of any such propane inventory and the amount payable by BUYER under Section 3.2(e) below for the offsetting Fixed Purchase Contract.
(d) No amount shall be payable by BUYER in connection with the assumption by BUYER of any Fixed Sales Contract or any Fixed Purchase Contract; provided, however, in the event a SELLER has made any deposit with a counterparty to any Fixed Purchase Contract, any unapplied portion of such deposit as of the time of Closing shall be paid by BUYER to such SELLER as part of the Purcha...
Long Term Contracts. (a) Overview.
(1) In general.
(2) Exceptions to required use of PCM.
(i) Exempt construction contract.
(ii) Qualified ship or residential construc- tion contract.
Long Term Contracts. Any lease (excluding leases of real property otherwise identified in the O.A.K. Disclosure Statement) or any agreement or understanding which obligates O.A.K. or any of the O.A.K. Subsidiaries for a period in excess of one year, which has a value in excess of $25,000, to purchase, sell, or provide services, materials, supplies, merchandise, facilities, or equipment and which is not terminable without cost or penalty on not more than 60 days' notice.
Long Term Contracts a. TCL will not, without the prior written consent of each Participant, enter into any Long-term Contract with respect to any Participant’s Tankers, or the performance of which requires any Participant’s Tanker. If TCL does so with the consent of the Participants, the Participant that owns the applicable Tanker shall not terminate this Agreement until the Long-term Contract has been fully performed, always subject to Clause 29(b) hereof.
b. If the requirements of any Long-term Contract cannot be met because a Tanker has been withdrawn from the Pool, or has been off-hire as defined in Clause 14 hereof for a period of at least forty (40) consecutive days, then the Participant that committed the Tanker shall provide at its expense a suitable substitute tanker, to be approved by the other Participants, such approval not to be unreasonably withheld, for the remaining period of the Long-term Contract, unless TCL as Commercial Manager is able to substitute that Tanker with any other of the Tankers which TCL as Commercial Manager will use reasonable endeavours to do. If the Participant is not able to provide such a substitute Tanker, the Participant shall be liable to TCL for the costs of chartering in such substitute Tanker (off-set by the earnings of such substitute Tanker) until the requirements of the Long-term Contract are met. TCL shall not require the consent of any Participant to enter into such Long-term Contracts with respect to TCL tankers alone.
Long Term Contracts. The approval or execution of any contract.
Long Term Contracts. 34 Section 6.13. Changes In Fiscal Year. ..................................34 Section 6.14. Limitation On Issuance Of Equity Interests. ..............34 Section 6.15. Capital Expenditures......................................34
Long Term Contracts. During the term of this Agreement, without the written consent of Purchaser, Sellers will not enter into or renew any facility or equipment lease agreement for a term greater than three (3) years. During the third year of this Agreement, Sellers will not enter into or renew any form of advertising contract, or any other agreement that could materially affect the Transferred Assets (other than facility or equipment leases), if such contract or agreement has a term greater than one year.
